Australian, NZ Dollars Fall On Weak China Data
The Australian and New Zealand dollars depreciated against their
major rivals in the Asian session on Monday, as disappointing
economic data from China indicated a slowdown in economic activity
amid flooding and weakening of global demand.
Official data showed that China's industrial production and
retail sales grew less than expected in July.
Industrial production grew 6.4 percent on a yearly basis in
July, weaker than the economists' forecast of 7.9 percent.
Retail sales rose 8.5 percent on year, which was slower than the
expected increase of 10.9 percent.
Investors worry that the spread of the Delta variant of the
coronavirus will derail the economic rebound from the crisis.
The Japanese government is planning to extend the state of
emergency in Tokyo and to include more regions to contain the
outbreak of the virus. The current state of emergency will end on
Data from the Cabinet Office showed that Japan's gross domestic
product expanded an annualized 1.3 percent on year in the second
quarter of 2021.
That beat forecasts for an increase of 0.7 percent following the
3.9 percent contraction in the first quarter.
The kiwi weakened to 0.7023 against the greenback and 1.6789
against the euro, down from its prior highs of 0.7044 and 1.6733,
respectively. The next possible support for the kiwi is seen around
0.68 against the greenback and 1.70 against the euro.
The kiwi hit 76.81 against the yen, its lowest level since
August 4. On the downside, 74 is seen as its next possible support
The aussie dropped to an 8-1/2-month low of 1.0440 against the
kiwi, near 2-week lows of 80.23 against the yen and 1.6076 against
the euro, off its early highs of 1.0468, 80.88 and 1.5995,
respectively. The currency is likely to find support around 1.03
against the kiwi, 78.00 against the yen and 1.63 against the
The aussie eased off from its early highs of 0.9226 against the
loonie and 0.7373 against the greenback, weakening to 0.9194 and
0.7333, respectively. If the aussie slides further, 0.90 and 0.70
are possibly seen as its next support levels against the loonie and
the greenback, respectively.
The Japanese yen strengthened on safe-haven status amid a spike
in domestic COVID-19 cases.
The yen jumped to near 2-week highs of 109.33 against the
greenback, 151.46 against the pound and 87.17 against the loonie,
following its prior lows of 109.75, 152.20 and 87.69, respectively.
The yen may face resistance around 106 against the greenback,
149.00 against the pound and 84.00 against the loonie.
The yen approached near a 4-week high of 128.93 against the
euro, up from a low of 129.43 seen at 6:15 pm ET. The yen is seen
finding resistance around the 125.00 region.
The yen reached as high as 119.38 against the franc, after
falling to 119.87 at 6:15 pm ET. Should the yen strengthens
further, it is likely to test resistance around the 116.5
Looking ahead, Canada wholesale sales for June and New York
Fed's empire manufacturing survey for August will be featured in
the New York session.
Sterling vs Yen (FX:GBPJPY)
から 11 2021 まで 12 2021
Sterling vs Yen (FX:GBPJPY)
から 12 2020 まで 12 2021